Category: Business

    The African Development Bank (AfDB) and the European Union (EU) have reaffirmed their  commitment to unlock hundreds of millions in financing for African infrastructure and development needs.   Collaboration between the two institutions would focus on de-risking the business environment in Africa, providing equity, guarantees and other types of non-grant support, AfDB President, Dr. Akinwumi, and EU Commissioner, Neven Mimica, said at a news conference held on the sidelines of the Africa Investment Forum in South Africa.   Both men stressed the central role of investment in the…

    Chief Executive Officer, Tony Elumelu Foundation, Ifeyinwa Ugochukwu, has urged youths to imbibe a job creating mentality for success in the future.   She stated this at the Misk Global Forum in Riyadh, Saudi Arabia. The event, which had as its theme, “Work Reworked, ” focused on discovering the new trends and transformation in the world of work, regardless of location or socio-economic divide.   Speaking on the theme, “Dinosaur or Future-Fit/ Careers in a Post-Job Era,” she emphasised the role entrepreneurship plays in educating the youth for…

    The decision by the Central Bank of Nigeria (CBN) to bar non-bank locals (individuals and corporates) from participating in its Open Market Operations (OMO) at both the primary and secondary markets, could make it difficult for the banks to comply with the apex bank’s Loan to Deposit Ratio (LDR) requirements, thereby affecting their profitability, analysts at Comercio Partners have said.   In a report obtained by New Telegraph at the weekend, the analysts noted that the OMO restriction had resulted to a decline in yields at the CBN’s…

Access Bank and Nigerian Breweries (through Star Lager Beer) have announced, “Access The Stars”, a collaborative music platform to discover, groom and amplify the next generation of Nigerian talents. According to the two companies,  “Access The Stars is a new platform created for exceptional and aspirational Nigerians in the music industry to be discovered, refined, and empowered to reach higher heights by accessing their star potential. Successful artists will get to tour with the best of Nigerian artists on ‘The Trek’ across the country, giving the grassroots access to the stars…

The World Bank has reviewed downward Nigeria’s economic growth forecast for this year to 2.0 per cent from its earlier projection of 2.1per cent in April. The bank, which stated this in its October Africa’s Pulse report, released yesterday, also projected that the country’s economy would expand by 2.1 per cent in 2020 and 2021, which are 0.1 and 0.3 percentage points lower than its April forecasts, respectively. According to the World Bank, multiple exchange rates, foreign exchange restrictions, high inflation, and low non-oil revenues among other obstacles, will ensure…